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American Express Credit Account Secured Note Trust 2011-1 $39.394 Million Class 1 Notes Assigned Preliminary Ratings Oct 11
Standard & Poors, Oct 2011
Abstract
OVERVIEW American Express Credit Account Secured Note Trust 2011-1's note issuance is an ABS securitization backed by payments received by the owner trust relating to the collateral interest in American Express Credit Account Master Trust's (Amex CAMT's) series 2011-1 transaction. The collateral interest is collateralized by a pool of receivables in Amex CAMT, which are generated by American Express credit card accounts and Sign & Travel/Extended Payment Option revolving credit accounts that are owned by American Express Centurion Bank or American Express Bank FSB. We assigned our preliminary 'A- (sf)' rating to the class 1 notes. The preliminary 'A- (sf)' rating reflects our view of the transaction's credit support, payment and legal structures, and pool characteristics, among other factors. NEW...
Companies mentioned in this report are: American Express Credit Account Secured Note Trust 2011-1
Action: Preliminary Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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